A new report from Bank Director showed that today’s Baby Boomer- and Gen X-run banks are still trying to figure out the next big generation of consumers.
The auto finance industry originated nine million auto loans through the first four months of year, totaling $182.9 billion. Equifax said these were the highest levels for this time of year since it began tracking auto finance data.
The new location represents Wells Fargo Dealers Services’ 56th Regional Business Center. It’s also the first of two new offices the company plans to open in 2015.
The CFPB finalized last week its proposal to oversee nonbank auto finance companies. The finalized rule, which left out recommendations submitted by an auto finance trade group, will take effect 60 days after publication in the Federal Register.
With government regulators keeping a close eye on the auto finance industry, Finance Express unveiled a new online system designed to help finance sources expedite recovery of ancillary product cancellation refunds.
Swapalease.com released a new study that shows a majority of customers aren’t interested in car-sharing services or autonomous driving. What they do want is lenders bidding for their business.
Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.
Manheim selected Shane O’Dell to serve as senior vice president of wholesale service, a new role within the company. O’Dell has worked in the vehicle finance industry since 1995.
F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.
When a sudden financial loss strikes an otherwise profitable dealership, filing for bankruptcy may be the best way to save the store.
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